Price Risk Management (Tables)

12 Months Ended

Dec. 31, 2020

Price Risk Management [Abstract]

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]

PGE’s Assets and Liabilities from price risk management activities consist of the following (in millions):

	As of December 31,
	2020		2019
Current assets:
Commodity contracts:
Electricity	$	4	$	9
Natural gas	29		16
Total current derivative assets(1)	33		25
Noncurrent assets:
Commodity contracts:
Electricity	4		7
Natural gas	8		6
Total noncurrent derivative assets(1)	12		13
Total derivative assets(2)	$	45	$	38
Current liabilities:
Commodity contracts:
Electricity	$	13	$	14
Natural gas	2		9
Total current derivative liabilities	15		23
Noncurrent liabilities:
Commodity contracts:
Electricity	133		105
Natural gas	3		3
Total noncurrent derivative liabilities	136		108
Total derivative liabilities(2)	$	151	$	131

(1)Total current derivative assets is included in Other current assets, and Total noncurrent derivative assets is included in Other noncurrent assets on the consolidated balance sheets.

(2)As of December 31, 2020 and 2019, no commodity derivative assets or liabilities were designated as hedging instruments.

Schedule of Derivative Instruments [Table Text Block]

PGE’s net volumes related to its Assets and Liabilities from price risk management activities resulting from its derivative transactions, which are expected to deliver or settle at various dates through 2035, were as follows (in millions):

	As of December 31,
	2020			2019
Commodity contracts:
Electricity	6		MWh	6		MWh
Natural gas	137		Dth	145		Dth
Foreign currency contracts	$	19	Canadian	$	23	Canadian

Derivatives Not Designated as Hedging Instruments [Table Text Block]

Net realized and unrealized losses (gains) on derivative transactions not designated as hedging instruments are classified in Purchased power and fuel in the consolidated statements of income and were as follows (in millions):

	Years Ended December 31,
	2020		2019		2018
Commodity contracts:
Electricity	$	160	$	20	$	(34)
Natural Gas	(34)		(32)		21
Foreign currency contracts	(1)		(1)		1

Net unrealized and certain net realized losses (gains) presented in the table above are offset within the consolidated statements of income by the effects of regulatory accounting. Of the net amounts recognized in Net income, net losses of $12 million, net gains of $2 million, and net gains of $18 million for the years ended December 31, 2020, 2019 and 2018, respectively, have been offset.

Schedule of Price Risk Derivatives [Table Text Block]

Assuming no changes in market prices and interest rates, the following table presents the years in which the net unrealized (gains)/losses recorded as of December 31, 2020 related to PGE’s derivative activities would become realized as a result of the settlement of the underlying derivative instrument (in millions):

	2021		2022		2023		2024		2025		Thereafter		Total
Commodity contracts:
Electricity	$	9	$	4	$	8	$	8	$	9	$	100	$	138
Natural gas	(27)		(5)		—		—		—		—		(32)
Net unrealized (gain)/loss	$	(18)	$	(1)	$	8	$	8	$	9	$	100	$	106

Schedule of Concentration of Risk, by Counterparty [Table Text Block]

Counterparties representing 10% or more of Assets and Liabilities from price risk management activities were as follows:

	As of December 31,
	2020		2019
Assets from price risk management activities:
Counterparty A	12	%	35	%
Counterparty B	17		13
Counterparty C	21		11
Counterparty D	16		11
	66	%	70	%
Liabilities from price risk management activities:
Counterparty E	93	%	79	%